Dieterich Bank completes acquisition

Dieterich Bank of Effingham announced on Aug. 10 that it has completed its acquisition of five Illinois branches from First Bank. The branch offices are located in Breese, Chester, Columbia, Red Bud and Waterloo. 

The sale and acquisition of these First Bank branches was announced by both First Bank and Dieterich Bank on Feb. 24 of this year.

Dieterich Bank assets as of the end of June were $844 million. The acquisition increases Dieterich Bank assets to just over $1 billion and brings its number of banking locations from nine to fourteen.

For more information, please see this week’s print edition.